Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Susan G who wrote (23594)	11/8/2001 1:08:31 AM
From: donald sew	Read Replies (2) of 52237

Susan G, >>>> Isn't an inverted hammer bullish and usually seen at the lower end of a trading range? And the bearish version is a shooting star and seen at the tops? <<<<< I never read a textbook on candlestics so here is my understanding of INVERTED HAMMERs. They are reversal signals after a significant rally or significant pullback. A shooting star is a 2 day pattern where a long day is followed by a gap and the second day is a small body/spinning top/doji. In the case of a doji its called a shooting doji star. Here's a basic rule that my granduncle, who used candlestics in trading rice/spices in Asia, taught me. SMALL BODIES, not like mine, are commonly points where there is some sort of indecision, regardless of the size of the shadows. I have no idea if this is in any textbook. The smaller the body the greater the indecision where the DOJI is the highest level of indecision. The other basic rule is that indecision candles are commonly found at reversal point, whether upside or downside reversals. Thats not to say that indecision candles only occur then. Hope that helps explain it.

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